11-24-2008, 04:14 PM
Yeah, the cash, depending on where it is, will be insured by the FDIC. For example my Complete Savings account with ETrade is FDIC insured whereas my brokerage account is SIPC backed. The SICP backing is not really insurance like FDIC. The SIPC is, as I understand it, a group of brokerages that collectively agree to certain rules that would get those 1000 shares of GE transfered to another brokerage should your brokerage fail. Obviously you would never want to use a broker that wasn't an SIPC member.
"Hamilton is really a Colossus to the anti republican party. Without numbers he is an host within himself. They have got themselves into a defile where they might be finished but too much security on the republican part will give time to his talents and indefatigableness to extricate them. We have had only middling performances to oppose to him. In truth when he comes forward there is nobody but yourself who can meet him. His adversaries having begun the attack he has the advantage of answering them and remains unanswered himself. For God's sake take up your pen and give a fundamental reply to Curtius and Camillas" - Thomas Jefferson to James Madison